Tag Archives: network

Hub Culture trades in Virtual Currency

Hub Culture which describes itself as a “collaboration network” has 25,000 users and does transactions in a virtual currency called Ven. Article from Finextra (includes video)

” The network says that its Hub Culture Knowledge Brokerage Services has now negotiated a gold production contract in South America sold to a private European buyer using Ven.”

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Filed under Hub Culture, virtual currency

Friend or Foe?

Social media behemoths Facebook and Zynga seem to be on a collision course and the fate of the social networking and online gaming world hangs in the balance….really.

Articles and analysis by:

TechCrunch ” During negotiations Facebook has taken some steps to punish Zynga, such as shutting off notifications for Farmville and other games, and Facebook has threatened, say multiple sources, to simply shut some of Zynga’s games down permanently”

Follow up coverage about ZLive Social Game Network from TechCrunch

PC World : ” The credit concern comes from Facebook requiring Zynga and other developers to use “Facebook Credits” as the only payment platform. Facebook takes a whopping 30 percent fee for the use of Facebook Credits.”

GigaOM ” It seemed as if Facebook used Zynga to get to its current scale — remember, before the Facebook platform launch in 2007, the network had only 24 million active users! — and now has little reason to give it favorable treatment. But even so, Zynga is not going to go independent anytime soon. Dropping Facebook would be dropping its whole business. This is about diversifying.”

Barron’s ” Facebook Credits has faced some unpopularity among game developers, who are used to managing their own in-game virtual currencies and taking a larger cut of the revenues.”

CNET ” The theory here is that Zynga and Facebook are clashing over the percentage that the social gaming giant might have to pay to use Facebook Credits, the social network’s nascent currency platform.”

ZDNet ” As for the business model, I’d like Zynga to pull out to see if another company fills the void. A Zynga departure would also give us an indicator on the health of Facebook’s app economy. It would also be interesting to see how Zynga does without Facebook.”

Search Engine Watch ” The question is: how many of the current Facebook users who flock and stay for long periods at a time every day on the site would leave when Zynga departs? How would Facebook make up for the revenue loss?”

Plenty more news about the explosive social games industry at SocialGameNews.com

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Filed under Facebook Credits, Uncategorized, Zynga

Apple rolls out Game Center

Apple unveils their new “Game Center” social network gaming platform. Will they integrate virtual currency into the mix? Articles and analysis by:

Financial Times

Slide To Play


Additional coverage at SocialGameNews.com

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Social Network site Vreebit rolls out “VreeBees” virtual currency

VreeBees earned by selling content, clicking on ads, referring new members, etc. VreeBees can be used to purchase ads, promote causes, obtain products.  Article from Social Media Portal here

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Latino Social Network Quepasa announces QDollars Virtual Currency

Quepasa members can purchase QDollars or earn QPoints to be used towards virtual gifts across the growing social network. PR Newswire coverage here

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